Chevrolet China sales decreased 19 percent to 107,447 units during the second quarter of 2019.
General Motors does not provide individual sales performance of sales in China, but we do have the following information:
During the first six months of the 2019 calendar year, Chevrolet China sales decreased 16 percent to 219,829 units.
| MODEL | Q2 2019 / Q2 2018 | Q2 2019 | Q2 2018 | YTD 2019 / YTD 2018 | YTD 2019 | YTD 2018 |
|---|---|---|---|---|---|---|
| CHEVROLET TOTAL | -18.54% | 107,447 | 131,895 | -16.18% | 219,829 | 262,262 |
Chevrolet China sales continued on a negative trend during the second quarter of the year, experiencing a steeper decline than the one recorded during the first quarter of 2019. Chevrolet sales have registered a steady decline in recent months in the largest automotive market of the world, because the general demand for vehicles in China remains weak. In fact, auto sales were down 16 percent in China during the second quarter of 2019.
What’s more, China’s “primary” cities adopted more stringent emission standards as of July 1st. For this reason, SAIC-GM dealers – the joint venture that builds and markets Chevrolet vehicles in China – offered huge discounts in June to reduce inventories of vehicles that did not meet the new standards. However, the measure failed to prevent overall second quarter sales volume from dropping.
To battle the sales stagnation in the Chinese market, Chevrolet launched the all-new 2020 Chevrolet Onix sedan and 2020 Tracker – the first two members of the new family of vehicles based on the GEM platform developed specifically for emerging markets. These models are powered by small engines that meet the new China 6 standards. In addition, Chevrolet is preparing to launch the all-new Trailblazer and Blazer XL during the second half of the year to capitalize on the boom in utility vehicles in the country.
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What about all their subs like Wuling and Baojun? Of all of GM's activity in China, how is health there?
china just announced new tariffs that will hurt US auto exports to china as well as other exports.
i'm beginning to think that china thinks they've got the upper hand on trump. case in point, trump backed down on his latest tariff threat until after christmas.
the elections are in about a year and trump needs a strong stock market and economy to make his case for a second term because that is all he has going for him.
the more this trade war escalates, the stock market and the economy will probably suffer.
what does trump do? act the tough guy and see the markets tank or back off and look defeated and weak?
oh well, i hope everyone has some exposure to gold because that is one of the few investments that will benefit in this environment.
Gold, are you serious ?
Can you give me your reasoning on gold ?
I mean back when an economy was backed with gold it was worth something, today there isn't enough gold in the world for wealth of anything.
Gold is a good metal to use in some electronic stuff.
You have to be at least 65 years old with that gold comment.
This China deal is getting interesting.
i understand where you are coming from. people a lot smarter than i, like warren buffet, think gold is a stupid investment.
as far as i'm concerned, gold is just a hedge against disaster/fear/doomsday scenarios. it is an insurance policy. it really isn't an investment because it sits there and does nothing most of the time.
but in times of distress and panic, it is nice to have. as the market was tanking yesterday, gold went up when just about everything else went down.
look at the bigger picture. US deficits way up. fed looks like it will have to cut rates to try to prop up the economy. and this is when we are not even in a recession.
if we go into a recession, things only get worse. more rate cuts and even more debt. trump piled on more debt when the economy was good. usually the government pays down the debt when times are good.
all of these things point to a weaker dollar. there is a strong correlation between a weak dollar and higher gold prices. sure, the world economy could tank and the dollar could still be strong on a relative basis. but then we would be in doomsday scenario.
so yes, gold as a commodity required for industrial use is limited. gold as a retainer of wealth does have some merit. it will always have some worth unlike paper money.
if things settle down and this trade mess gets resolved, gold will come back down. i just hope i will have cashed in my chips before that happens.
and no, i'm not anywhere near 65. i don't own physical gold tucked under my mattress. i do own gold mining stocks.